<p>Since bank savings accounts are monitored by AI, you might get a notice from the tax department if you don’t have proper documents for the source of your money. It’s important to know the rules about these limits.</p><img><p>Heard of someone getting a tax notice? It could happen to you too, mainly due to large bank transactions. The tax department now uses AI to monitor accounts. Not responding correctly can cause big trouble.</p><img><p>Tax expert CA Kamalesh Kumar says not to transfer large sums at once. If ₹10 lakh or more is deposited in a year, the bank reports it directly to the tax department, risking a notice.</p><img><p>For large transfers (over ₹10 lakh), have a clear source. Frequent large transactions raise suspicion. Always keep documents showing where the money came from, like from a relative.</p><img><p>PAN and KYC are a must for large transfers. Banks monitor activity and will question unusual deposits. Following the rules helps you avoid the risk of a tax notice from the department.</p>
